Melcor Real Estate Investment Trust Announces Expiration of “Go-Shop” Period

EDMONTON, Alberta, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) (TSX:MR.UN) today announced the expiration of the “go-shop” period (the “Go-Shop Period”) provided for in the previously announced arrangement agreement dated September 12, 2024 (the “Arrangement Agreement” and the transactions to be completed pursuant to the terms thereof, the “Arrangement”‎), pursuant to which Melcor Developments Ltd. (“Melcor”) has committed to acquire its unowned equity interest (approximately 45%) in Melcor REIT Limited Partnership (“REIT LP”) for $4.95 per unit in cash consideration (the “REIT LP Sale”). Melcor’s unowned equity interest in REIT LP comprises all REIT LP’s outstanding Class A LP Units (approximately 13.0 million units). In accordance with the Arrangement, the REIT will use the proceeds from the REIT LP Sale to repurchase and cancel all of the REIT’s outstanding participating trust units (“Trust Units”).